The MCX Stock Exchange (MCX-SX) has received approval from the Securities and Exchange Board of India and the Reserve Bank of India to launch currency options on its platform.

The approvals will allow the exchange to expand its currency derivatives business by introducing options in the dollar-rupee currency pair. MCX-SX will soon announce the launch date for live trading.

MCX-SX, which began trading in 2008 with currency futures, had won approval from regulators to start trading equities, equity futures, interest rate futures and wholesale debt products. 

MCX-SX is controlled by the Multi-Commodity Exchange of India (MCEI.BO), India’s biggest commodity bourse, which raised $135 million in an initial public offering in the local market earlier in 2012.